COAL - TODAY'S BLACK GOLD
Strategic Natural Resources PLC ("SNR") was formed on October 5th 2004 to establish the presence of and ultimately to exploit a variety of natural resources on a global basis.
By the middle of 2006 it had identified a potentially large coal deposit in South Africa. As a consequence, the Company was launched on the Alternative Investment Market ("AIM") of the London Stock Exchange on the 7th August 2007 raising initial capital sufficient to enable it to carry out a detailed exploration programme over some 9000 hectares of highly prospective territory.
A large resource of over 266,000,000 tonnes of coal has since been discovered; the Company having only drilled some 5% of the total area under licence. The potential for the discovery of further significant tonnage of coal remains undiminished.
Now, some 5 years later, SNR is the only major coal producer established in the Eastern Cape with its own rail line and dedicated sea port at East London. It is currently preparing the first 2million tonnes of coal for which it has a firm offtake agreement, for shipment.
The principal assets of SNR are held through its 74% owned subsidiary Elitheni Coal (Pty) Limited. The other 26% being held by its BEE partners.
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